Week ahead: Fed and BoE policy announcements due

(Sharecast News) - Among the highlights next week will be policy announcements from the US Federal Reserve and the Bank of England, as well as results from pharma giants AstraZeneca and GSK, and US tech firms Microsoft and Meta. Monday will see the release of first-half results from AstraZeneca, while Tuesday will bring full-year results from Games Workshop, half-year results from Barclays, Unilever and Unite Group and second-quarter numbers from GSK.

As far as Unilever is concerned, AJ Bell analysts Russ Mould and Danni Hewson said: "After reporting stronger than expected underlying sales growth in the first quarter, investors will be hoping Unilever can repeat the trick and at least maintain the current outlook.

"Surging commodity prices and supply disruptions from the war in Iran are making everyday products more expensive and the Dove soap maker said it would raise prices to soften the impact.

"Investors will be looking for evidence that Unilever can continue to grow volumes alongside anticipated price hikes, suggesting consumers are still willing to pay up rather than trade down.

"Being the Official Personal Care sponsor of the FIFA World Cup underscored Unilever's ambition to pivot away from food brands under CEO Fernando Fernandez."

Across the pond, quarterly results are due from Coca-Cola and Visa.

On Wednesday, investors will eye half-year results from Rio Tinto, Standard Chartered and Lancashire Holdings.

Richard Hunter, head of markets at Interactive Investor, said: "Some years ago, Standard was the darling of the UK banking sector and its recent performance has reignited some of that positive sentiment, with the group's share price gains topping the table in the sector over the last year.

"Its concentration in Asian markets is an attractive prospect both in terms of its move towards the affluent market via its Wealth Solutions unit, fast becoming a jewel in the crown for Standard, with particular promise seeming to emanate from India. In addition, investors will be keen for a positive update from its trading unit, which could provide a springboard for further gains."

In the US, quarterly results from Microsoft, Meta, and Procter & Gamble will be out.

Investors will also turn their attention to the latest policy announcement from the US Federal Reserve, which is widely expected to leave the federal funds rate at 3.50% to 3.75%.

ING said: "While the recent surge in oil prices has led markets to increase their expectations of a Federal Reserve rate hike, June's inflation data came in well below forecasts, and labour market figures were softer than anticipated. As a result, we expect the Fed to leave policy unchanged at its 28-29 July meeting."

On Thursday, half-year results from Lloyds Banking Group, Mondi, Rentokil, LSEG, BAE Systems, Rolls-Royce and Drax will be out, as well as second-quarter numbers from Shell.

Market participants will also be looking to the Bank of England, which is due to announce its latest interest rate decision amid expectations Bank Rate will be left unchanged at 3.75%.

In the US, quarterly results from Apple and Amazon are due.

On Friday, interim results from ITV, second-quarter results from BA and Iberia owner IAG, and half-year results from NatWest, Taylor Wimpey, Intertek and Rightmove will all be published. In the US, quarterly results from AbbVie and Chevron will be released.